French Purchasing Power Concerns: Study Reveals Decrease in the Next Twelve Months

2023-09-20 07:00:00

INFO LE FIGARO – More than one in two French people expect to see their purchasing power decrease over the next twelve months, according to a study.

The French are still particularly worried about their purchasing power, which they fear will see it decline in the coming years. This is what the latest CSA Research barometer for Cofidis* reveals, published this Wednesday. According to this study, carried out each year, the French are missing 588 euros per month on average, so that they can live comfortably and are not obliged to plan their budget down to the nearest cent.

This estimate is a record for twelve years, while the people questioned considered that they were missing 510 euros in 2022 and 467 euros in 2021. An increasingly substantial sum therefore, which the French would spend mainly on food (64 %), whose prices have increased the most according to them, in leisure (29%) and finally, in energy (23%).

In fact, 62% of French people intend to limit themselves on their basic needs, such as food (29%) and energy (27%). A level, again, never reached, since these rates are up 8 points compared to 2022. “We remain in a complicated situation, particularly constrained for the French», confirms Anne-Laure Marchal, CSA associate director, who explains that purchasing power remains “the major concern of the French“. And if a certain lull is observed compared to the last edition of this survey, when purchasing power concerned 54% of French people – or 6 points more than today (48%) – this concern remains very significant among the youngest and within the most modest households (leading for the poor categories at 38% and the modest categories at 54%). Likewise, more than one in two French people expect to see their purchasing power drop in the coming year. A proportion which even rises to 60% among retirees.

Inflation, culprit of all evils

The study also points out that few French people are satisfied with their budget: “Today, only 17% say their purchasing power is high or very high», notes Anne-Laure Marchal. A reality directly linked to inflation, “still there», Estimates the expert. Moreover, 76% of French people declare that inflation is the main reason for their difficulties in terms of purchasing power. Price increases are mainly felt on food (90%), energy (86%) and transport (72%).

Result: many French people have to restrict their spending. First on expenses “said to be non-essential», underlines the associate director, with the consequence, “less leisure, fewer outings, fewer clothes». «For each product they buy, the French optimize their shopping basket», with attention paid to product prices (search for the lowest prices for example) for 60% (+2 points vs. 2022).

Little hope of improvement

Despite these strategies, the French “realize that we must continue to make efforts because it will not be enough», deplores Anne-Laure Marchal. The morale of our compatriots is therefore gloomy, “pessimistic“, even, in the face of a “situation not resolved“. And this, “despite some good figures and ups and downs» who rely on a “return of growth». «The situation is not likely to improve tomorrow», she finally concludes.

In addition, this generalized inflation is becoming a source of tension, with those questioned considering the price increases largely unjustified. According to the study, this feeling is felt especially on rents (85%) and telecommunications (88%), more than for other expenditure items which have increased the most such as food (74%) and energy (71%), whose inflation nevertheless remains poorly accepted.

Against inflation, households mainly rely on the State, which appears to be the body best placed to regulate prices. Then come large companies such as manufacturers (79%), traders and distributors (68%). If the majority of people questioned (70%) consider that the State, in its sovereign power, is best able to fight against inflation and its consequences, more than six out of ten French people point to large companies (64%) as a determining actor.

*Survey carried out among a sample of 1,000 French people, representative of the French population aged 18 and over, self-administered online from June 21 to 28, 2023, constituted according to the quota method on the following criteria: gender , age, profession, region of residence and urban category.

1695195786
#French #missing #euros #month #live #comfortably #record

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.